# Token Utility

[Locking](https://docs.cortexdao.com/tokenomics/usdcxd/locking-cxd-for-vlcxd) the CXD token for vlCXD grants access to: 

* **Fee distribution.** A portion of protocol revenue is distributed to CXD lockers. 
* **Governance.** Vote to update, change, and revise protocol system parameters. 
* **Boosted Index returns.** Holding CXD + any CortexDAO Index = increased Index APR!